Darden Restaurants (DRI) PT Raised at Jefferies Post Q4

Jefferies reiterated its Hold rating on Darden Restaurants (NYSE: DRI) Monday but raised its price target from $43 to $50 following Q4 results Friday. Estimates were also adjusted and fall below the consensus.

Analyst Andy Barish comments, "F4Q SSS of +2.2% beat the Street's 0% as DRI's marketing around affordability appears to be driving traffic, but $1.01 EPS missed (consensus $1.04) as margins were negatively impacted. DRI's commitment to raising the dividend helps, but margin risk remains as DRI hits on value while food/labor costs rise & consumer spending remains choppy. We see F14/15 EPS of $3.04/3.26 (was $3.10/NE), vs. the Street's $3.18/3.49. PT $50 (from $43)."

For an analyst ratings summary and ratings history on Darden Restaurants click here. For more ratings news on Darden Restaurants click here.

Shares of Darden Restaurants closed at $50.12 yesterday.

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